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Pizza delivery chain Domino's Pizza Inc. reported lower quarterly earnings on Friday as its national marketing and promotions failed to take off.

Fourth-quarter net income was $31 million, or 49 cents per share, compared with $40.2 million, or 59 cents per share, a year earlier.

Wall Street analysts had been expecting earnings of 48 cents per share, according to Reuters Estimates.

The company said the 2006 fourth-quarter results were not comparable to the year-ago period due to the financial impact of the sale of its French and Dutch operations.

Earlier this month, Domino's unveiled a recapitalization plan that called for converting to securitized financing from traditional bank and bond financing. It set equity and debt tender offers to move ahead with the plan.